Hazy, a London, UK-based synthetic data company that re-engineering enterprise data, raised $9 million in Series A funding.
The round was led by Conviction, with participation from UCL Technology Fund, M12 (Microsoft), Wells Fargo, Nationwide Building Society, ACT Venture Partners, Terra VC, Evenlode, Logo Ventures, Sarus Ventures, and Neva SGR, the Intesa Sanpaolo bank venture capital company.
This funding will enable Hazy to continue to grow within the banking and telecom sectors in the UK, Europe, and the US.
“The response from businesses to the capabilities of synthetic data has been huge. Enabling our customers to access and actually use their data unlocks real commercial value... we're very excited to be right at the forefront of the synthetic data revolution." Harry Keen, Co-founder & CEO, Hazy.
The company’s AI-generated data preserves the statistical quality of the actual data but contains no real information and therefore eliminates the privacy risk.
Hazy’s meteoric rise began with winning the $1 million Microsoft Innovate AI prize for the best AI startup in Europe and has gone from strength to strength since. Customers include Nationwide Building Society, Vodafone Group, and Wells Fargo.
Company: Hazy Limited
Raised: $9.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Conviction
Additional Investors: UCL Technology Fund, M12 (Microsoft), Wells Fargo, Nationwide Building Society, ACT Venture Partners, Terra VC, Evenlode, Logo Ventures, Sarus Ventures, and Neva SGR
Company Website: https://hazy.com/
Software Category: Synthetic Data Solutions
About the Company: Founded in 2017, Hazy is a synthetic data company that is built on the belief that privacy by design should not slow down innovation. It offers transformation of digital infrastructure, acceleration of adoption of AI, empowerment of business intelligence, commercialization of enterprise data, and other solutions. The company caters to financial services, telecommunications, government, and research customers. Hazy uses AI-generated smart synthetic data that preserves the statistical quality of the real data but contains no real information and therefore eliminates the privacy risk. Hazy’s synthetic data can be used as a drop-in replacement for real data with AI/ML development, software testing, and data commercialization use cases.
Source: https://hazy.com/resources/2023/03/28/hazy-raises-9m-to-power-synthetic-data-usage